IPO listing of Saraswati Saree Depot today: In the midst of upbeat market mood, shares of prominent Indian saree producer and distributor Saraswati Saree Depot had a solid start on the exchanges. Shares of Saraswati Saree Depot launched on the BSE at a premium of Rs 40, or 25%, at Rs 200 as opposed to the Rs 160 IPO issue price.
Additionally, shares of Saraswati Saree Depot floated at a premium of 21.25 percent, or Rs 194, on the NSE. Investors who received Saraswati Saree Depot IPO shares gained Rs 34 each as a result of this outstanding listing. The Saraswati Saree Depot IPO's grey market premium (GMP) increased by more than 25% before listing, signaling significant listing profits for investors.
Details about Saraswati Saree Depot's IPO
On Friday, August 16, 2024, the allotment for the Saraswati Saree Depot Initial Public Offering (IPO) shares was completed. The shares were priced between Rs 152-160 per share, with a lot size of 90 shares. Saraswati Saree Depot raised around Rs 56.02 crore through the IPO by offering a fresh issuance of 6,499,800 shares valued at nearly Rs 104 crore and an offer for sale (OFS) of 3,501,000 shares at a face value of Rs 10 each. Investor interest for the public offering was high; on the last day of subscription, 107.39 subscriptions had been made.
According to the RHP filings, Saraswati Saree Depot would utilize the net proceeds from the public issue to pay for its working capital needs as well as for other corporate objectives.
